Morgan Stanley Issues Positive Forecast for Global Business Travel Group (NYSE:GBTG) Stock Price

Global Business Travel Group (NYSE:GBTG) had its price target boosted by Morgan Stanley from $7.00 to $9.00 in a report released on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts also recently weighed in on GBTG. UBS Group started coverage on Global Business Travel Group in a report on Friday, November 22nd. They issued a “buy” rating and a $11.00 target price on the stock. Citigroup increased their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Friday, October 4th.

Global Business Travel Group Price Performance

Shares of NYSE:GBTG opened at $9.00 on Thursday. The business has a 50-day simple moving average of $8.46 and a two-hundred day simple moving average of $7.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of -25.00 and a beta of 0.73. Global Business Travel Group has a fifty-two week low of $4.49 and a fifty-two week high of $9.60.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. The company had revenue of $597.00 million for the quarter, compared to analysts’ expectations of $611.89 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. On average, analysts expect that Global Business Travel Group will post -0.17 earnings per share for the current year.

Global Business Travel Group declared that its board has authorized a stock buyback plan on Tuesday, November 5th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Global Business Travel Group

Several hedge funds have recently bought and sold shares of GBTG. Vanguard Group Inc. boosted its position in shares of Global Business Travel Group by 1.1% in the first quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after purchasing an additional 10,446 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Global Business Travel Group by 1,116.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock valued at $6,652,000 after buying an additional 925,018 shares in the last quarter. Principal Financial Group Inc. bought a new position in Global Business Travel Group in the 2nd quarter worth $108,000. Rhumbline Advisers increased its stake in Global Business Travel Group by 419.3% in the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock worth $950,000 after buying an additional 116,175 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Global Business Travel Group during the second quarter valued at about $147,000. Institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Company Profile

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.